According to a new market report published by Lucintel, the future of the infrared sensor market looks promising with opportunities in consumer electronics, smart homes, industrial, commercial, and military & defense sectors. The global infrared sensor market is expected to reach an estimated $422.6 million by 2021 and is forecast to grow at a CAGR of 8.7% from 2016 to 2021. The major drivers of growth for this market are increased demand for smartphones and tablets, rising concern about safety and security, and increasing automation in the building and industrial sector.

In this market, pyroelectric, thermopile, microbolometer, indium gallium arsenide (InGaAs), mercury cadmium telluride (MCT) are the major infrared sensor. Pyroelectric sensor is expected to remain the largest sensor type due to the increasing demand for people motion sensing in the commercial building and gas and flame detection in the industrial facilities. Lucintel predicts that the demand for microbolometer is likely to experience the highest growth in the forecast period supported by increasing demand in smart home.

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Within the infrared sensor market, people and motion sensing is expected to remain the largest segment due to increasing usage of infrared sensors for people counting and motion detection in the commercial sector. Lucintel predicts that the demand for smart home is likely to experience the highest growth in the forecast period, supported by increasing demand for consumer convenience, safety and security, and the rising need for energy efficiency.

Asia Pacific is expected to remain the largest region and to witness the highest growth over the forecast period because of an increase in demand of smartphone, tablets, and smart TVs, and growth in industrial and home automation.

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of infrared sensors in smart homes and increasing use of infrared sensors for night vision and surveillance. Excelitas Technologies Corporation, Hamamatsu Photonics, FLIR Systems Inc., Murata Manufacturing Co. Ltd., and Texas Instruments Inc. are among the major infrared sensor suppliers.

The study includes a forecast for the infrared sensor market by sensor type, end use industry, and region as follows:

By end use industry [Volume (Million Units) and $M shipment analysis from 2010 to 2021]:

This 160-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/toc/global_infrared_detector_market_2016 or [email protected]